GENERAL INSURANCE BLOG

As the Motor Vehicle Act specifies, every bike owner must acquire a third-party insurance policy. You may compare bike insurance online and choose the policy that offers the most value for your money while providing superior coverage. You can compare different plans with a hassle-free process.

Why is bike insurance comparison important?

Given the variety of bike insurance options available in the market, it is advised that you compare these options online before selecting the best policy for your motorcycle. Online comparison of plans across numerous categories is simple as more information is readily available. These comparisons assist you in choosing the bike insurance that offers you the most benefits at the lowest premium.

The best two wheeler insurance is a comprehensive 2 wheeler insurance plan because it covers both own damage and the legally required third-party bike insurance. Additionally, you can purchase any necessary add-on coverage to broaden the scope of your standard policy.

Here are the key elements you need to consider while evaluating various bike insurance options online.

1. Best coverage:
You may go through several bike insurance plans when comparing two-wheeler insurance online. The coverage may vary slightly depending on the insurance provider. You can pick the best protection that will work out well for you.
You should be aware that manually comparing bike insurance policies will take time. The best way is to research online and digitally compare different policies and their coverage before making the final decision.

2. Most suitable policy:
It's best to assess your needs before comparing bike insurance online. Because you will be clear on your plan's benefits, the purchasing process becomes faster. It enables you to choose the insurance policy that best fits your needs.
A comprehensive bike insurance plan is recommended for those who expect to ride their bike for a long time as it provides coverage for "own damage," and the third-party bike insurance. Your insurance provider will cover the cost of restoring the bike in the event of any damage.

This kind of insurance also provides a broad range of coverage, including protection against accidents, theft, fire, natural disasters, man-made disasters, third-party liabilities, and personal accident insurance for the bike's rider.

3. Customer support service:
Always keep customer service quality in mind when picking a bike insurance provider because it guarantees the prompt resolution of your complaints. Checking the insurer's social media pages for consumer comments, reviews, and ratings is a good place to start.
It is crucial to purchase the best coverage from a reputable insurer and the finest policy possible. Look for special services that an insurer provides, such as prompt repairs, easy pickups, helpful customer service, etc.

4. Network of service centres:
The availability of network garages is crucial for hassle-free bike repairs. You must consider the number of network garages listed under specific insurance if you want a cashless claim settlement for your bike.
Finding a nearby cashless garage during a road incident would be easier if your insurer has a nationwide network. Therefore, pick insurance with an extensive network of garages so you can benefit from quick, stress-free repair services and efficient claim processing wherever.

Don't forget to check out the chosen insurer's social media pages, brochures, and website. You will gain insight into the company's reputation. Check features like a quick, paperless, and efficient purchase & claim settlement process before concluding the deal. If you intend to purchase bike insurance online, you must abide by the aforementioned requirements to find an affordable and appropriate policy that meets your needs.

Click HERE to buy the best bike insurance for your motorcycle.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

Car insurance is a shield that protects your vehicle and your finances in case of accidents or any untoward incident involving your car. You pay a fixed sum annually, known as the insurance premium, for availing of the insurance company's services. As your policy approaches its expiry date, you must renew it by paying the premium.

There may be instances when you cannot pay the due insurance premium on time. You may be busy, unavailable, or not have the funds to renew it or simply forget to renew your policy. What happens to your policy, then? Does it expire and lapse? No. You might enjoy a special privilege known as the grace period, which prevents your policy from lapsing.

Let us know more about the grace period in car insurance.

1. Duration:
An insurance company usually provides a 15-30 days grace period from the expiry of your car insurance policy. However, it may differ from one company to another as per the policy's terms and conditions.

2. Charges:
Normally you don't have to pay any extra charges even if you renew your car insurance policy during the grace period. There may be a penalty if you do not renew your policy even within the grace period and do it after it ends.

3. Accrued bonus:
No-claim bonus (NCB) is the bonus amount accrued yearly in your policy if you do not raise a claim in that year. You get a discount on the insurance premium amount at the time of renewal of the policy, depending upon the NCB accrued to date.
Does this accrued NCB expire if you do not renew your policy in time? The answer is "NO". You can enjoy the benefit of your NCB even if you renew your car insurance policy during the grace period. However, the NCB may lapse and become inactive if you fail to renew your policy even within the grace period.

4. Claim settlement:
As we have discussed above, your car insurance policy will still be valid during the grace period. What happens if your car meets with an accident or gets stolen during the grace period? Will the insurance company entertain your claim now?
The answer is "NO" again. Your claim will be rejected simply because you did not renew your car insurance in time. Hence, it is crucial that you always renew your car insurance policy before its expiry date or as soon as possible because accidents come unannounced, even during the grace period. The entire purpose of having car insurance coverage will be defeated in such a situation.

5. Legal aspect:
According to the Motor Vehicles Act, it is mandatory to have a valid and active car insurance policy in India. Your car insurance is technically invalid if your insurance policy expires and you enter the grace period. Hence, legally you will be driving without a car insurance policy. The police will have the right to fine you and issue a challan if you're being stopped.

6. Inspection:
The car insurance company may again send an agent for the inspection of your car if you renew your policy after the grace period expires. In such a case, you will have to bear the inspection charges.

An active car insurance policy is essential as it safeguards you against any mishap involving your car and third-party liabilities arising from it. So why wait for the policy to expire first to renew it?

You should always renew your policy in advance, so your protection remains intact. You can easily opt to buy car insurance policy online and also renew it online later. Buying and renewing a car insurance policy online is fast, simple, secure, and 100% reliable.

Click HERE to buy car insurance policy online.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

Besides its legal obligations, bike insurance can help you avoid paying heavy amounts for any damage, theft, or mishaps. But if you buy two wheeler insurance online, you must look for the various coverages the insurance policy provides. What if your two-wheeler catches fire because of an accident or other disaster? Will your insurance policy cover it?

Fire can cause minor issues, such as wire or seat damage, or even the total loss of your vehicle. Repairing significant damages or even a total loss may cost you a fortune, as you have to pay a considerable amount for repair or replacement. Thus, it would help if you had a bike insurance policy that offered you financial assistance for the damages caused by the fire. This quick guide will help you know whether your bike insurance policy covers fire damage.

Which two wheeler insurance covers fire damage?
There are three main types of bike insurance, but coverage of damages depends on the type of policy you pick. However, here is a list of bike insurance policies and the range of coverage that each policy provides.

Comprehensive bike insurance:
Comprehensive bike insurance is one of the most popular types of insurance due to its wide range of coverage, and it covers both own damage and third-party damages. Besides covering fire damage, this two wheeler insurance policy covers the following damages:

● Third-party injury

● Vehicle theft

● Accidental damages

● Third-party property damage

● Death of the third party

● Natural calamities damages

● Artificial calamities damages

Standalone bike insurance:
A standalone own-damage bike insurance policy only covers the damage to your bike. Here is the list of coverage this policy allows:

● Damage caused due to fire

● Bike theft

● Natural calamities

● Accidental damages

● Artificial calamities

Third-party bike insurance:
Third-party bike insurance offers coverage for the injury or damage of a third-party vehicle. However, this insurance does not cover the damages to your bike, including fire damage. But, having this policy is mandatory by law:

● Third-party injury

● Third-party property damage

● Death of the third party

Inclusions and exclusion of fire damage in two-wheeler insurance:
When you buy two wheeler insurance online, you must know the terms & conditions and the coverage for fire damage. Here is the list of inclusions and exclusions for fire damage.

Inclusions:

● Accidental house fire

● Natural calamities

● Riots

● Motor accident

● Vandalism

Exclusions:

● Fire damage due to mechanical or electrical defect

● Damage due to the addition of extra accessories

● Damage due to deliberate acts or own negligence

● Fire damage caused outside the specific geographical area

How to claim for two-wheeler fire damage?
If your vehicle is damaged due to fire and you have your bike insurance policy which covers fire damage. Then you must follow the below process to claim for such damages:

● Contact your insurance provider and inform them about the damage and its cause within 48 hours

● Collect various evidence, such as taking videos or pictures of the incident or the damaged parts of your two-wheeler due to the fire

● Visit your nearest police station and file an FIR

● Submit multiple documents such as address proof, identity proof, etc.

● Then the insurance provider will send a surveyor for an inspection of your case

● In case of minor repair or replacement, the insurer will offer you compensation

● In case of a total loss, the insurer will give you the amount as per the policy's terms

Documents required:

● Driving licence

● Identity proof

● FIR copy

● Registration certificate for bike

● Report of the fire brigade

Various reasons can cause fire damage, and it can be pretty disturbing for you to pay for the repairs or replacement of the damaged parts. Thus, it would be best if you had bike insurance covering the fire damage and providing you with the financial assistance you need during an emergency. It is best to buy two wheeler insurance online, browse through multiple options and research the one that offers comprehensive coverage, including fire damage. This way, you can efficiently ensure the longevity of your two-wheeler and stay financially sound.

Click HERE to buy two wheeler insurance online.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

Most people are familiar with motor insurance, its benefits, and its exclusions. It is an efficient financial instrument that supports us when our insured vehicle encounters an unfortunate incident. Motor insurance comes with many optional coverages that may be useful to you. Did you know about the Return to Invoice or RTI coverage? Choosing this coverage while you buy motor insurance online can be a great help. Let's learn more about RTI coverage, its benefits, and its functionality.

What is "Return to Invoice" in motor insurance?

Return to invoice is an optional coverage for your car insurance. It lets you get money equal to the car's original value, also called the invoice value. This coverage is not required by law, so you can buy motor insurance online and include RTI coverage as an add-on. It is an application you use when your car faces total loss, such as if someone steals it or it gets fully damaged by fire or a natural calamity.

How does it work?
In normal car insurance coverage without an RTI add-on, you can get the maximum claim amount as your car's "insured declared value" (IDV). IDV is always less than the invoice value of the car.
However, with car insurance having RTI coverage, you can get the maximum amount of claim on the invoice value of your car. In simple words, when you have RTI coverage in your car insurance, you can get the road value of your car when it is stolen.

How is it calculated?
You can easily determine the amount of insurance that comes with RTI by looking at the car's total price when you buy it. The return to invoice includes the total car price, such as road tax paid, ex-showroom price, and registration cost.

What is covered in Return to Invoice?
If your car gets stolen or damaged beyond repair, you can raise a claim against the RTI. Let's look at the different circumstances when this coverage can benefit you:

● When you don't have secured parking

● Living in an area where car thefts are common

● Living in an area prone to natural calamities such as floods, landslides, and more

What does not apply in the Return to Invoice?

Sometimes, the RTI cover may not work, and you can't claim the insured amount. Here are some situations when this cover is not applicable, including:

● Damage to your car when someone else is driving

● You can't avail RTI add-on if your car is older than 3 years from the buying time

● You can't avail of the RTI cover for minor dents and grazing on the car body

● You must submit a copy of the FIR to process the return-to-invoice claim

Benefits of Return to Invoice in motor insurance.

Some benefits of RTI in car insurance include:

● It increases the scope of your car insurance coverage

● It is beneficial when you live in an area where car thefts are common

● It is available for new cars. Hence, you can give your new car more care with this cover

● It is available with a comprehensive car insurance policy

Once you understand everything about the Return to Invoice, consider adding this optional cover. RTI can help you when your car is damaged beyond repair. If you live or park your car in a place where theft, natural calamity, or fire is common, you should add RTI to your policy when you buy motor insurance online.

Click HERE to buy motor insurance online.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

A cashless garage facility is one in which an insurance company has a tie-up with a garage. Whenever you meet with an accident or file an insurance claim for repairs, you will not have to settle the bill in cash at these garages. The insurance company will directly pay the bill. However, you have to bear some nominal charges for processing the claim. Also, some compulsory deductibles exist as per the insurance policy’s terms and conditions.

Not all garages will have a tie-up with your respective insurance company. The list of network garages is easily available with your insurance company. You need to verify it with your insurance provider and search for the nearest garage that will provide you with a cashless facility. Let us see how a cashless garage facility can be helpful to us.

1. Hassle-free claim settlement:
Insurance companies are directly connected to the network garages. Hence, you do not need to visit multiple garages to complete the repair work. You can directly go to the network garage after informing the insurance company, provide the required documents, and that’s it! The garage will take it over, and the insurance company will settle the bill. The entire claim settlement process becomes hassle-free.

2. Prompt service:
As mentioned above, not all garages are covered in the cashless network list of the insurance company. Hence, listed garages provide prompt and good quality repairs and renewal services to maintain harmonious relations with the insurance company. This can be helpful to you, and you’ll get quick service and timely delivery of your vehicle.

3. No cash payout:
This is one of the most important benefits of a cashless garage facility. In the non-listed garage, you have to settle the entire bill in cash at the time of delivery of the car. Accidents do not come informed. Hence, such sudden bills can put you under a financial burden. The repair costs of modern-day cars are hefty and can cost several thousands of rupees in one go.
A cashless garage facility will release this financial burden from you, and you’ll not have to pay any repair costs from your pocket. Minor documentation and deductibles charges can be easily met. This facility makes the claim settlement process swift, and you do not have to worry about footing the repair bill.

4. Transparent billing and quality service:
The insurance company and its surveyors are in constant touch with the network garage. They provide a big chunk of work to the garage regularly. Hence, the network garages abstain from committing any fraud, using sub-standard components and parts, or engaging in over-billing while repairing cars. Hence, we are assured of fair and transparent billing and top-notch service.

A cashless garage facility is a blessing for all vehicle owners. It makes the claim settlement process convenient, hassle-free, and fast. Also, it relieves us from paying sudden and heavy repairs and renewal charges when our car meets with an accident. We get quality work at reasonable prices.

But first, you need to have a valid and functional motor insurance policy for your vehicle to enjoy a cashless garage facility for it. Always renew your insurance policy on time and never let it expire because accidents do not announce before occurring. Opt for online motor insurance renewal, which makes the renewal process effortless. You can do it from the comfort of your office or home, at any time of day or night. Also, you are saved from the hassle of meeting with the insurance agent or going to the insurance office for renewal. Go the modern way; choose online motor insurance renewal.

Click HERE for hassle-free online motor insurance renewal.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

From commuting to the office to planning a road trip with friends, having your vehicle is a worthwhile investment. However, there are certain rules and regulations you should keep in mind when driving a vehicle. A valid driving licence and insurance are essential to driving a vehicle on Indian roads, and vehicles that lack these important documents are subjected to fines and punishments.

But there are times when you can lose your motor insurance policy documents accidentally. What should be the right measure in the situation? While, your insurance company will guide you through the whole procedure, we help you here with all the basic things to keep in mind.

What are the immediate steps to take after losing your insurance papers?

If you've misplaced or lost your insurance papers, then the immediate steps to take are mentioned below:

1. File an FIR at the nearest station:
The First Information Report (FIR) is important for obtaining duplicate insurance papers. Once you have lost your insurance papers, go to the nearest police station and file an FIR. Report all the necessary details to the officer in charge. Once you've done that, get a copy of the report to keep with you.

2. Apply to the insurance company:
The next step involves the submission of the application to your insurance company. You must submit a written application with details like the policyholder's name, policy number, kind of coverage, and date of issuance, among others. You should also mention the reason for the loss of the documents. The application also requires the photocopy of the FIR to be provided with the documents.

While there are no restrictions on claim filing, it may not be a good idea to do so frequently for the reasons mentioned below:

3. Publish an advertisement:
It is also required to publish an advertisement announcing the loss of your insurance papers. It is to be done in a newspaper so that all the details can be covered for a wider reader base. The details to be included are:

● Registration number of the two-wheeler

● Insurance policy number

● Name of the insurance company

● Name of the policyholder

You will cover the cost of it all. Once the newspaper publication is done, attest a copy of the same with the other documents to the insurance company.

4. The signing of the indemnity bond:
The last step is a bit complicated. Through this, you will be asked to sign an indemnity bond. It will be done on a judicial stamp paper and requires your signature. This bond will be your official request to the insurance company for issuing the duplicate policy documents of your insurance. This bond also states that if you find the original policy documents, you will inform the insurer and return the documents. The signing should be done with the presence of two witnesses. All the necessary details should be provided as well.

After the bond is signed, the insurance company will investigate the matter and verify everything. Once everything is done, a duplicate set of insurance papers will be issued to you.

Following these steps will get you the duplicate papers of your motor insurance in case you've misplaced or lost it. Make sure to apply to your concerned motor insurance company in India to avoid further delays. Also, always be alert and keep your insurance papers safe to minimise the risks of theft or misplacing them.

Click HERE to buy insurance from the best motor insurance company in India.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

Technology has significantly advanced in recent years, with almost all businesses, including the auto and insurance industries, adapting to technology principles to drive better results and more scalability.

While the auto industry has made great strides in autonomous driving, the insurance sector has also started to offer motor insurance plans that charge customised premiums using various telematics systems. After being extensively available in many nations worldwide, these insurance policies have recently become popular in India.

What impact does telematics have on the motor insurance sector?

Telematics, once a specialised element, is now permeating the mainstream of the car and insurance industries. A growing number of motor insurers have started to give customers the choice of usage-based insurance with telematics.

The automobile sector is experiencing an acceleration in innovation because of the surprising boost of the Internet of Things (IoT) and Artificial Intelligence (AI), which are creating new opportunities to enhance customer experiences. Telematics-powered usage-based insurance (UBI) is a key component of this push toward digitalisation.

How does it work?

GPS and other technologies are used by telematics to track user driving through a gadget put in the car or a mobile app. You might reduce your rate by driving more safely with telematics or GPS box insurance.

The telematics model initially gained popularity in the auto insurance industry because of its capacity to monitor vehicle usage using devices that can be operated using smartphones. Usage Based Insurance (UBI), a recent development among auto insurers, offers four distinct types based on driving behaviour:

● Pay As You Drive

● Pay How You Drive

● Control Your Drive

● Distance-based insurance

How is the cost of insurance determined using telematics?

Traditionally, the type of your car is one of the factors considered when determining the rate for your motor insurance policy. As a result, if two people own the same make and model of car, their insurance premiums will probably be similar. But what if one of the two drivers is a more sensible and responsible driver? Should they still be subject to the same premiums?

A usage-based or telematics-based auto insurance coverage can be useful in this situation. In a usage-based auto insurance policy, the insurance providers use various telematics tools and connect them to the vehicle's GPS. They can monitor the drivers' driving behaviour and reward them with benefits. The device tracks your car's mileage, average speed, gasoline consumption, fuel economy, and driving safety.

The gathered information is sent to your insurer over the cellular network. Your insurance premium is determined after the insurance provider analyses the data it has received. Your motor insurance premiums will be lower if you drive safely or do not use your car frequently.

Challenges:
Insurers can use telematic devices to gain information about a customer's driving habits because they capture real-time data. As telematics devices need to be added to or retrofitted into cars and data needs to be collected and kept, this raises data privacy issues. Before being subjected to extensive analysis to produce actionable insights, data is frequently shared with several parties.

Benefits of telematics insurance:
Telematics in auto insurance may significantly reduce friction throughout the insurance supply chain, particularly underwriting, customer service, and claims management. One potential result from telematics as a whole is a considerably closer bond with insurers and the consumer base that boosts customer loyalty.

How is telematics transforming the future of motor insurance?
Every business, from the car to aviation, has embraced technology to create cutting-edge products that will win over customers. Like other businesses, the insurance sector has begun integrating modern technologies into its daily operations to make it simpler for customers to access and purchase policies.

Speaking of the motor insurance industry, it has seen a significant transition recently. Technology has significantly impacted this sector, from IoT telematics-based premium computation to new insurance products. The change will be evident soon and will reap exceptional outcomes.

Click HERE to buy the best motor insurance in India.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

Rock climbing and rappelling offer some of the most thrilling encounters with nature and adventure. It's a hands-on journey that requires all of your focus. Although rappelling hasn't gained widespread popularity like paragliding or river rafting, it is gradually doing so. Many locations across the nation have established themselves as adventure centres with a dedicated focus on rappelling.

An unforgettable experience, scaling a steep rock is exciting and leaves a lasting impression. The adventure sport of rappelling is very taxing and requires mental and physical stamina. While you still have the chance, you must at least once experience it. Rappelling puts your resolve to the test of your limits.

Here is a list of the top rappelling spots in India.

1. The charming city of Rishikesh:
Rishikesh is not only a pilgrimage destination. Travellers from all over the world come to the "yoga capital" in huge numbers. Rishikesh, the paradise for all adventure activities and tours, has the perfect terrain for rappelling. The dotted hills, flora and fauna, rivers, and streams help adventure sports flourish here.

2. A haven for adventurers, Odisha:
Odisha is another retreat for adrenaline seekers. Lord Jagannath's native state is steadily establishing a reputation as a centre for adventure. If you are physically healthy and desire to use that stored energy well, consider rappelling in the Pandav Bakhara Caves and the Chandaka Wildlife Sanctuary. Pushing your stamina to a real test is a wholesome experience in Odisha, where you can enjoy rappelling with a professional staff trained at the Indian Mountaineering Foundation.

3. A foggy affair in Himachal Pradesh:
Stand a chance to touch the clouds when you go rappelling in Himachal Pradesh or cherish the top-of-the-world feeling. There are several rocky hotspots where you can do adventure sports in this land of mountains. The pleasant weather and breathtaking views will double your excitement and promise you a wholesome experience. One of the most exciting waterfall rappelling adventures at Tirthan Valley has no parallel.

4. Rappelling down south with a mystic charm:
If hot adventure tours are what you're after, come down to the south. From Coorg to Dandeli, there are many thrilling and adventurous things to do. You can go to Karnataka to fully understand what it's like to conquer a cliff and absorb the breathtaking views. Enjoy your serenity amidst the wild and unbridled splendour of nature.

5. Maharashtra's penchant for adventure:
Maharashtra offers many options for a weekend break if you're seeking something discreet and unexplored. In Maharashtra, you can go trekking or even kiteboarding. The Sahyadri mountain range is the best playground for rappellers to enjoy their favourite sport. Some of the state's most well-known rappelling locations include the Kundalika Waterfalls in Kolad, the Ashoka Waterfalls in Kasara, Sandhan Valley, and the Kondana Caves in Karjat.

Everyone may have a different definition of adventure, however, the adrenaline and thrill that rappelling provides cannot be disputed. Climbing a steep rock is heart-thumping but risky at the same time. You can stay reasonably safe if you consistently practise good behaviours like double-checking knots and tying backups.

Being prepared for any situation and knowing what may go wrong will help you stay safe and avoid accidents. It would be wise to purchase personal accident insurance online (PA insurance), an annual policy that pays benefits in the event of injuries, disabling conditions, or fatalities entirely brought on by violent, accidental, external, and obvious events.

Click HERE to buy personal accident insurance online before planning your next rappelling trip.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.